Eskom initiates liquidation of Trillian
Insolvent State-owned power utility Eskom plans to start liquidation proceedings against Trillian Management Consulting and Trillian Capital Partners, in the North Gauteng High Court later this month.
This follows after the Supreme Court of Appeal last month dismissed the two Trillian companies’ application for leave to appeal a judgment made by the North Gauteng High Court in October last year.
The High Court ruled in favour of Eskom asking for the Trillian entities to pay back R600-million that Eskom had irregularly paid to them in 2016.
The payment was part of a R1.6-billion payment in a contract that Eskom had entered into with McKinsey & Co.
In 2018, McKinsey had paid back more than R1-billion, including interest, to Eskom.
Eskom group CEO André de Ruyter commented in a statement released by the utility on Thursday that Eskom had a moral duty and legal obligation to do everything in its power to claw back all the monies that were illegally paid out during the height of State capture.
This case was one of the many in which Eskom’s management would attempt to recoup what it was owed.
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